A symmetrical triangle is a technical analysis chart pattern formed by two converging trend lines, one ascending and the other descending, which connect a series of higher lows and lower highs respectively. This pattern indicates a period of consolidation before a potential breakout.
When a symmetrical triangle forms below an upward trend, it can be considered a continuation pattern, indicating a temporary pause in the uptrend. The triangle's apex points to a potential breakout direction, which in this case, would be an upside breakout, resuming the previous uptrend.
Here are the key characteristics:
- Formed by two converging trend lines
- Higher lows and lower highs
- Consolidation period
- Potential upside breakout
- Continuation pattern
Keep in mind that technical analysis is not always exact, and other factors should be considered before making trading decisions.
When a symmetrical triangle forms below an upward trend, it can be considered a continuation pattern, indicating a temporary pause in the uptrend. The triangle's apex points to a potential breakout direction, which in this case, would be an upside breakout, resuming the previous uptrend.
Here are the key characteristics:
- Formed by two converging trend lines
- Higher lows and lower highs
- Consolidation period
- Potential upside breakout
- Continuation pattern
Keep in mind that technical analysis is not always exact, and other factors should be considered before making trading decisions.
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